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NanoMaterials, Ltd. Israel, a producer of nanotech products, was named a prize winner in the Network of Automotive Excellence Innovation Award 2010 competition.
The company, producer of the NanoLub® brand of performance enhancing nanotechnology additives for lubricating oils and greases based on its unique nanoparticles, received the award on November 24th, 2010 at the Wuerzburg Automotive Summit, Wurzburg, Germany, in recognition of its NanoGTM foam technology for making car seats thinner, lighter and in a more ergonomic design while providing improved comfort level compared to seats used today. The NoAE award comes less than a month after NanoMaterials' recent recognition as the "Nanotechnology Company of the Year 2010" granted by the Israel Ministry of Industry & Trade.
The Network of Automotive Excellence (NoAE) Innovation-Competition is the biggest innovation event in the automotive world. This year over 420 proposals were submitted from 23 countries. An independent jury consisting of 12 managers and specialists from major automotive companies selected the best 30 innovative ideas from over 400 submissions. The innovation competition is held under the auspices of the Federal Minister for Economics and Technology, of the Federal Republic of Germany, Mr. Rainer Bruederle.
The NoAE was established by leading automotive companies with the collaboration of the European Commission. Partners include Audi, Ford, Daimler, Mazda, Johnson Controls, Microsoft, Bosch, Alcoa, and others. NoAE is a member of the "Initiative Networks of Competence Germany" sponsored by the German Federal Ministry of Economics and Technology.
About Nano Materials
Nano Materials (www.apnano.com) is a private nanotechnology company founded in 2002 in Israel. The company is located in the high tech science park adjacent to the Weizmann Institute of Science in Nes Ziona. The company was granted an exclusive license by YEDA Research and Development Co. Ltd., the commercial arm of the Weizmann Institute. to manufacture, commercialize and sell a new class of nanomaterials based on inorganic compounds that were discovered at the Institute. The shareholders in the company include Newton Technology VC Fund, YEDA Research and Development Co. Ltd., AYYT – TTC Ltd. (the commercial arm of the Holon Institute of Technology (HIT), Israel, and private European investors.
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